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Reuters
Published
Apr 19, 2010
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France's L'Occitane in $708 million Hong Kong IPO

By
Reuters
Published
Apr 19, 2010

HONG KONG, April 18 (Reuters) - Cosmetics retailer L'Occitane International S.A. plans to raise up to $708 million in a Hong Kong initial public offering, a source close to the deal said on Sunday 18 April, becoming the first French company to list in Hong Kong.

L’Occitane
Photo : AFP/Mychele Daniau

L'Occitane, which manufactures products like almond and olive-based creams and lavender gels, was not immediately available for comment. The source has direct knowledge of the offering but was not authorised to speak on the record about the deal.

Based in Manosque, a small town in Provence in the south of France, the company is selling 364 million shares, or 25 percent of its enlarged share capital, at a price range indicated between HK$12.88 and HK$15.08 per share, the source said.

CLSA, HSBC (0005.HK) (HSBA.L) and UBS (UBSN.VX) are underwriting L'Occitane's deal.

(US$1=HK$7.75)

(Reporting by Kennix Chim, Editing by Elaine Hardcastle)

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